American Axle Teetering On Verge Of Ch. 11: Report

Law360, New York (January 27, 2009, 12:00 AM EST) -- American Axle Manufacturing Holdings Inc. could be the latest auto parts maker to face bankruptcy, according to an analyst's report Monday from KDP Investment Advisors Inc.

The Detroit-based maker of drivelines, powertrains and chassis for light cars and trucks could be looking at a Chapter 11 filing within the next 12 months as slumping sales eat into its existing cash reserves, the report written by KDP analyst Kip Penniman said.

“At today's projected rate of capacity utilization, despite management's efforts to remain upbeat at recent conferences,...
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